i am an interior designer practising as an Consultant. i have few commercial projects in my hand with material and labour. what taxes are applicable to me if i am doing such jobs? should i collect s taxes on the gross amount? should i collect taxes if i cross 10 lacs after deducting material bills? i will not cross 10 lacs if only consultancy is there. should i also collect vat if i cross 5 lacs as billing is in my head? what is the percentage of taxes applicable and on what case?
i am not doing this kind of jobs on regular basis. will i have to continue collecting such taxes next year even if i will not cross 10 lacs?
please suggest me as i am in puzzle regarding collecting taxes from my clients.
26 February 2009
YOU HAVE TO COLLECT VAT & SERVICE TAX BOTH THERE ARE OPTIONS FOR VAT RATES & SYSTEM WHICH YOU SHOULD BENIFICIALLY ADOPT. PLS CONSULT & SPEAK TO YOUR TAX CONSULTANT.
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